Suncor Energy Inc. (NYSE:SU) Sees Significant Decrease in Short Interest

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 13,306,044 shares, a decrease of 35.8% from the September 15th total of 20,739,907 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 3,650,638 shares, the short-interest ratio is currently 3.6 days.

Suncor Energy Stock Down 0.3%

Shares of NYSE SU opened at $75.67 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $76.73. The firm has a market capitalization of $88.50 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.50 and a beta of 0.36. The firm has a fifty day simple moving average of $68.22 and a two-hundred day simple moving average of $64.69.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period last year, the company posted $0.71 EPS. Equities analysts expect that Suncor Energy will post 8.12 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a C$0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy’s dividend payout ratio is presently 31.86%.

Analysts Set New Price Targets

SU has been the topic of several recent analyst reports. Morgan Stanley set a $106.00 target price on Suncor Energy in a research note on Wednesday, August 19th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $79.62.

Institutional Trading of Suncor Energy

Several institutional investors and hedge funds have recently bought and sold shares of SU. Triasima Portfolio Management inc. grew its holdings in shares of Suncor Energy by 43.4% during the 3rd quarter. Triasima Portfolio Management inc. now owns 58,466 shares of the oil and gas producer’s stock worth $3,974,000 after acquiring an additional 17,681 shares during the period. Ninety One UK Ltd raised its position in shares of Suncor Energy by 29.9% in the 3rd quarter. Ninety One UK Ltd now owns 851,994 shares of the oil and gas producer’s stock worth $57,910,000 after acquiring an additional 195,952 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new position in shares of Suncor Energy in the 3rd quarter valued at approximately $204,000. Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Suncor Energy by 2.2% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 25,223 shares of the oil and gas producer’s stock valued at $1,712,000 after purchasing an additional 531 shares during the period. Finally, Pacifica Partners Inc. lifted its stake in shares of Suncor Energy by 0.3% in the 3rd quarter. Pacifica Partners Inc. now owns 100,391 shares of the oil and gas producer’s stock valued at $6,914,000 after purchasing an additional 315 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada’s oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.